Tuesday, November 6, 2012 11:43:57 AM
Being right so often helps. @HumanAction: BWA! HAhahaha! Nice one bro! @chalket: Ka-ZINGA! You've been owned...
Continued excellence @HA: smart AND concise? =
The only thing I`d add is: The Clinton Admin first changed the rules because BLACKS were being denied loans due to "poor credit rate". Some argued that "institutionalized racism" caused otherwise credit-worthy Blacks to have lower credit than similar Whites. There IS INDEED some merit to this arguement! So after Clinton gave the green light for Sub-Prime BLACKS, they started buying more houses.
Some then argued that it`s ILLEGAL to just base it on race (100% true) so the floodgates opened, rules were changed AGAIN and LOTS of sub-prime folks got loans, bought houses, inflated the market, bubble burst & etc.
Plus there`s this NASTY rule which allows banks to sell mtgs to "3rd Party Lenders" = EVIL!
Tuesday, November 6, 2012 11:30:41 AM
With out Capitalism would have never had slavery... @dm2754: Serious question: are you bi-polar? Sometimes you make terrific sense, other times... For the record: I'm Uni-Polar depressive.
FYI: Slavery has been around since the dawn of humanity...
[quote]and in communism, not everyone got sent to death camps[/quote] @Modwain: just a "few million" of them, to set an example... [quote]Castro is the only one in that list i have second thoughts abuot...[/quote] Kinda true, and I forgot North Korea entirely! BUT both have starvation IN THIS CENTURY! Castro has huge prisons, not "deathcamps". NK has both...
[quote]...it was the government intervention...[/quote] True that @HumanAction! The greedy banks JUMPED at the chance to make more money, of course, but the Gov`t is to blame for the CAUSE of it. @Modwain: The Gov`t passed the Law which changed the system for the worse.
Monday, November 5, 2012 3:05:37 PM
Lastly, since there seems to be debate regarding whether or not capitalism is an economic issue, a social issue, or both, allow me to offer you the definition from Merriam-Webster:
Capitalism: an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.
Not a single mention of it being a social issue. Of course, this is to be expected since capitalism refers to an economic system. Perhaps it is you who has missed "half of it at least"...